A subsidiary of Spanish infrastructure management fund Asterion Industrial Partners is buying UK firm AMP Clean Energy in a deal worth £63 million.
The latter company is a specialist provider of distributed heat, power and renewable fuels to help businesses unlock the potential of decentralised, low carbon energy.
Under the terms of the acquisition, AMP Clean Energy shareholders will receive 90 pence in cash for each share.
Richard Burrell, Chief Executive of AMP Clean Energy said: “This transaction not only represents an attractive offer price for AMP Clean Energy but it ensures AMP Clean Energy has the right partner to help fund its next phase of growth to help UK businesses unlock the potential of decentralised, low carbon energy which supports the UK’s transition to a low carbon economy.
“With access to further capital from Asterion, AMP Clean Energy will be able to continue to capitalise on its key strength of developing, operating and aggregating small-scale assets and in doing so, delivering energy close to the point of consumption, where and when it is needed most.”
Last year, ELN visited the Ashford Peaking Plant in Kent, managed by AMP, to find out how it works and the importance of such flexible plants moving forward.